Particle.news
Download on the App Store
5 ARTICLES
·
2mo ago

Nimbus Clears ₹80 Crore in Authority Dues, Launches Construction of Arista Luxe Phase II

Nimbus’s ₹80 crore payment toward authority dues paves the way for homebuyers to secure registries ahead of the 2029 delivery of its 342-unit luxury phase.

UP Government's co-developer policy is designed to address legacy projects stuck due to financial distress and allows a financially sound and credible co-developer to step in, take control, and complete the project. (PTI Photo) (PTI07_14_2025_000467B) (Representational photo)
Image
Nimbus said that the second phase — Arista Luxe — is scheduled for completion by 2029. (HT Photos)
Image

Overview

  • Nimbus has deposited ₹80 crore of the ₹170 crore owed to the Noida Authority under Uttar Pradesh’s co-developer policy.
  • Work is under way to upgrade fire-safety systems, sewage treatment, elevators and other amenities for homebuyers who received occupancy certificates in 2019.
  • Phase II construction spans four acres and will deliver 342 luxury apartments priced at ₹16,000–18,000 per sq ft, following the initial delivery of roughly 600 units in phase I.
  • The Arista Luxe project holds RERA registration and approval under the Legacy Stalled Projects scheme, with completion scheduled for 2029.
  • Nimbus’s investment and infrastructure push aim to restore trust among buyers as demand for luxury housing remains robust in Noida.